CERTAINTY EQUIVALENCE FOR DETERMINATION OF OPTIMAL FERTILIZER APPLICATION RATES WITH CARRY-OVER

C. Robert Taylor

Western Journal of Agricultural Economics, 1983, vol. 08, issue 01, 4

Abstract: This note demonstrates that a certain class of stochastic problems for determination of optimal fertilizer application rates in the presence of fertilizer carry-over can be simplified to static, certainly equivalent problems. Conditions required for certainty equivalence to hold are: (1) fertilizer carry-over is agronomically equivalent to applied fertilizer; and (2) some addition of fertilizer is optimal in every decision period.

Keywords: Crop; Production/Industries (search for similar items in EconPapers)
Date: 1983
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:wjagec:32490

DOI: 10.22004/ag.econ.32490

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